The Mexican peso traded at 18.53 per US dollar in electronic operations on Monday, a Día de Muertos holiday in Mexico, 27 centavos stronger than the Friday close, according to Bloomberg data.
Trading volume was thin. Mexico had no local negotiations on the holiday, and dealings took place only through electronic channels.
Bank rates and analyst view
Banamex quoted a dollar selling price of 19.02 pesos and a buying price of 17.98 pesos. Gabriela Siller, director of economic analysis at Banco Base, said that from a technical standpoint, the exchange rate shows a very slight correction downward.
The US 10-year bond yield stood at 4.47 percent, while Mexico’s 10-year yield was at 9.03 percent. Other emerging-market currencies also gained against the dollar: the Chilean peso rose 1.09 percent, the Hungarian forint 1.04 percent, the South African rand 0.70 percent, the Czech koruna 0.62 percent and the Romanian leu 0.49 percent.
Fed decision in view
Market attention is turning to US job creation figures for October, forecast at 65,000. If that figure is confirmed, the Federal Reserve would have fewer reasons not to raise its rate at its last meeting of 2026, scheduled for 8 and 9 December.
Most of the market bets on a 25 basis point increase at that meeting.
Related: Mexican peso firms to 18.42 per dollar on Monday · Mexican peso gains 3.46 centavos against the dollar
